The electric two-wheeler market is driven by urban mobility needs, government incentives, and advancements in battery technology, with strong growth across key global regions.

The global electric two wheeler market is expected to hit US$ 70,880.2 million in 2024. The worldwide market is anticipated to grow at an 11.1% CAGR and reach a market value of USD 203,078.7 million by 2034.

The size of the electric two wheeler market is likely to face growth opportunities in emerging economies, due to the technological advancements, which are playing a crucial role in promoting the adoption of electric two-wheelers.

Ongoing technological developments help make electric two-wheelers more appealing to consumers as the electric vehicle market develops. The most important areas of development are smart connectivity features, increased range, and upgraded safety features.

Smart connectivity features integration improves the user experience for electric two-wheeler owners. Electric scooters and motorcycles increasingly come with sophisticated telematics systems, enabling riders to link their vehicles to smartphones or other devices.

Smartphone applications connected to electric two-wheelers give real-time data on battery levels, range calculations, charging station locations, and vehicle diagnostics. The connectivity is not only convenient but also adds to a more interactive and user-friendly ownership experience.

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Key Takeaways from Market Study:

• Global market projected to grow from US$ 70,880.2 million in 2024 to US$ 203,078.7 million by 2034, at a CAGR of 11.1%.
• Electric scooters anticipated to hold a market share of 61.2% in 2024.
• Lithium-ion battery segment expected to account for 82.3% of the market by 2034.
• China projected to secure a 69.4% share of the global market in 2024.
• East Asia region forecasted to experience a CAGR of 12.0% through 2034.
• North America's market share anticipated to reach 29.2% by 2034.
• Japan's market expected to grow at a CAGR of 11.8% from 2024 to 2034.
• Advancements in battery technology, including higher energy density and faster charging, are driving market growth.
• Urbanization and traffic congestion are increasing the demand for electric two-wheelers as efficient urban mobility solutions.
• High initial costs, primarily due to battery expenses, remain a barrier to widespread adoption.
• Integration of smart connectivity features is enhancing user experience and attracting tech-savvy consumers.

Leading Players Driving Innovation in the Electric Two Wheeler Market:

AIMA Technology Co., Ltd; Ather Energy Pvt. Ltd.; Energica Motor Company SPA; Gogoro Limited; Govecs AG; Hero Electric Vehicles Pvt. Ltd; Jiangsu Xinri E-Vehicle Co. Ltd.; Piaggio & C. SpA; Vmoto Limited; Zero Motorcycles Inc.

Country-wise Insights;

The United States is projected to dominate 72.0% of the North American electric two-wheeler market by 2034, driven by government incentives and policies. With a market value of US$ 13,119.1 million in 2024, the sector is expected to grow at a robust 12.5% CAGR, reaching US$ 42,695.3 million by 2034. Federal tax credits, rebates, and state-level incentives for electric vehicles, including electric two-wheelers, are playing a crucial role in encouraging consumer adoption. Additionally, the expansion of charging infrastructure, including public and residential charging options, is addressing range anxiety and enhancing practicality. Ongoing advancements in battery efficiency, vehicle range, and smart connectivity features are further expected to drive consumer interest and accelerate market growth.

Category-wise Insights:

The electric scooters segment is set to dominate the electric two-wheeler market, projected to hold 62.2% of the market share by 2034. With a segment value of US$ 43,378.7 million in 2024, electric scooters are expected to grow at an 11.3% CAGR, reaching US$ 126,314.9 million by 2034.

Recent Developments:

• In 2022, Gogoro Inc. launched its advanced battery swapping technology and Smart scooters in the Tel Aviv metropolitan region. Working together with industry partners Metro Motor and Paz Group, the companies foresee rolling out this launch to more Israeli cities over the next few years.
• In 2022, HERO Electric formed a strategic alliance with Jio-BP to offer electric vehicle charging and battery solutions in collaboration. The partnership is anticipated to significantly improve the company's after-sales service capacity.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global electric two wheeler market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights on the basis of product type, battery type, and region. By product type, the market includes electric scooters, electric motorcycles, and electric bicycles, each catering to different mobility needs. Battery type segmentation comprises lithium-ion, lead-based, and NiMH batteries, with lithium-ion leading due to its superior efficiency and longer lifespan. Regionally, the market is divided into North America, Europe, East Asia, Latin America, the Middle East & Africa, and South Asia & Oceania, reflecting the diverse adoption trends and growth potential across global markets.

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